New Housing Assistance Program :

The New Housing Assistance Program provides new housing assistance for low- to moderate-income households in purchasing a home within the city limits of Panama City.  During the past decade, more than 500 families have been assisted in buying an affordable housing unit through this program.

The maximum available for closing cost assistance is $3,000, and for down payment the maximum is $15,000.  The actual subsidy amount will vary depending on the need of the prospective homeowner.

Applicants must be income-eligible based on household size and must be able to qualify for a home loan either through a conventional bank or mortgage lender.  An applicant’s eligibility for assistance will be determined primarily by the applicant’s income and credit worthiness.

Our goal is to encourage home ownership, to reclaim abandoned neighborhoods and attract hardworking, low- to moderate-income families back to the City of Panama City.  The purpose of this program is to assist applicants who are not homeowners to become homeowners.  For more information on our New Housing Assistance Program, call or visit our office.